Home / Knowledge / News / Ex-Im Bank of the US commits $2.45 bn to India
Ex-Im Bank of the US commits $2.45 bn to India
10
Aug '09
The Export-Import Bank of the US has approved nine Indian financial institutions and made a $ 2.45 billion commitment under the India Infrastructure Facility for India's infrastructure projects and capital goods purchases. The Facility is available for long and medium term transactions and projects and provides for expedited processing and minimizes documentation, Mr. Raymond Ellis, Vice President, Strategic Initiatives Division of the Ex-Im Bank of the US, said.

The Indian FIs approved by the US Ex-Im Bank are India Infrastructure Finance Company Ltd.; Indian Renewable Energy Development Agency; IDBI; IDFC; IL&FS; PFC; PNB, SBI and ICICI Ltd.

At a meeting with Indian industry representatives organized by FICCI, Mr. Ellis said, the Ex-IM Bank has A current exposure to Indian borrowers of $ 7.2 billion in sectors such as aviation, telecom, oil & gas, heavy equipment sales and leases, medical equipment, services and energy.

Ex-Im Bank assists exporters by guaranteeing term financing to creditworthy international buyers, both private and public sector, for purchases of U.S. goods and services. With Ex-Im Bank's loan guarantee, international buyers are able to obtain competitive term financing from lenders when financing is otherwise not available or there are no economically viable interest rates on terms over one-to-two years.

Under its Direct Loans facility, the Ex-Im Bank assists exporters by providing fixed-rate loans to creditworthy international buyers, both private and public sector, for purchases of U.S. goods and services.

Mr. Ashok Pasricha, Senior Engineer, US Ex-Im Bank outlined the special programmes of the Bank. These include Medical Equipment InitiativeC(MEI), Transportation Security Exports Program (T-SEP) and Environmental Exports Program (EEP).

Under the MEI, the Bank offers solutions to increase the export of medical equipment from U.S. companies to foreign borrowers that would not go forward without Ex-Im Bank support. The MEI includes creative financing structures and enhanced coverage.

Under the T-SEP Initiative, it provides enhanced financing support for U.S. exports that are related to international transportation security. Specifically, Ex-Im Bank will provide enhancements to its normal support for eligible transportation security transactions under its medium- and long-term insurance, guarantee and loan programs.

He said, the Ex-Im Bank was committed to increasing the level of support it provides to U.S. exporters of environmentally beneficial goods and services, as well as to U.S. exporters participating in environmental projects located internationally. To achieve this objective, Ex-Im Bank's Environmental Exports Program (EEP) provides enhanced levels of financial support for a broad range of renewable energy and other environmentally beneficial exports.

Mr. V K Topa, Advisor, FICCI, called upon Indian companies to look at the various financing options available for importing US products for their projects in India and take advantage of the funding options being offered by the US Ex-Im Bank.


Federation of Indian Chambers of Commerce and Industry


Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search